While geopolitical tensions in Europe increased as a result of remarks made by Russian President Vladimir Putin over the weekend, oil prices rose in early trade on Monday as worries about financial sector volatility subsided. Brent crude prices increased 33 cents or 0.4% to $75.32 per barrel. The price of U.S. West Texas Intermediate crude…
As an exception due to the ban on shipping of this variety of rice on September 8, 2022, the government has authorized the export of 3.5 lakh tonnes (lt) of broken rice to Senegal and Gambia. The Ministry has also approved the delivery of 9,990 tonnes of broken rice to Djibouti, Ethiopia. Ruby Overseas of…
State-owned CIL announced on Friday that it is stepping up output in an endeavor to enhance coal supplies to the unregulated sector (NRS) without compromising supplies to the power industry. The announcement follows the Maharatna firm’s announcement a few days prior that it is preparing to satisfy the demand for coal from the power industry…
After the U.S. Federal Reserve tempered its aggressive approach to controlling inflation in a highly anticipated policy statement and signaled that interest rate hikes will soon come to a halt, silver yesterday closed up 1.3% at 70212. However, once U.S. Treasury Secretary Yellen denied that the government had considered protecting all accounts in the U.S….
The price of copper yesterday increased by 1.52% to settle at 783.45 as China’s demand has been strengthening as a result of a seasonal demand uptick and the post-pandemic economic rebound. Concerns over the availability of copper on the LME market have returned as canceled warrants or metal slated for delivery, now account for 45%…
Indian Oil Corporation Ltd. (IOCL), a state-run company, announced on Wednesday that its board of directors has approved the construction of a petrochemical complex at Paradip in the Indian state of Odisha, at an estimated cost of ₹ 61,077 crores. The PSU refiner said in a statement that the petrochemical complex will include a world-scale…
The unseasonal rainfall has harmed the crops, therefore prices of basic necessities like wheat, jeera, chana, and various fruits and vegetables are anticipated to rise. Unseasonal rains are predicted to raise the costs of goods that are in limited supply and lower the returns for farmers in the case of perishable goods and areas where…
After three sessions of gains, oil prices declined on Thursday when U.S. Federal Reserve Chair Jerome Powell reiterated his commitment to containing inflation, including the likelihood of additional interest rate increases. U.S. West Texas Intermediate crude (WTI) dropped 84 cents, or 1.2%, to $70.06 while Brent crude futures dropped 80 cents, or 1%, to $75.89…
JK Tyres & Industries stated on Tuesday that the industry is anticipated to increase at a double-digit rate due to a rebound in demand for compact automobiles and two-wheelers in India during the past two years. “The last couple of years back, when the auto sector was experiencing a slight slowdown because of Covid, the…
Rupee remained unchanged on Tuesday and ended the day at 82.6662 versus the dollar. The Indian rupee has essentially been flat over the previous week, as we predicted. This happened in spite of solid foreign investment and falling crude oil prices. The net inflows of foreign portfolio investors were close to $600 million in the previous…
